China, Mar 06 : China is engaging Iran in diplomatic talks to secure safe transit for crude oil and Qatari liquefied natural gas vessels through the Strait of Hormuz, amid escalating hostilities between Tehran and U.S.-Israeli forces, three diplomatic sources told Reuters.
The conflict, now in its sixth day, has effectively paralyzed one of the world’s most important shipping lanes, which accounts for roughly a fifth of global oil and LNG supplies. China, heavily reliant on Middle Eastern energy, receives about 45% of its oil imports via this corridor and has expressed concern over Iran’s disruption of commercial shipping.
Ship tracking data indicates that the vessel Iron Maiden successfully passed through the Strait after signaling ownership to China. However, experts note that significantly more transit activity will be required to stabilize global markets. Crude oil prices have surged over 15% since the conflict began, driven by halted production and Tehran’s attacks on energy facilities and shipping vessels.
Missile strikes from Iran have reached as far as Cyprus, Azerbaijan, and Turkey, further unsettling markets and prompting warnings from major economies about potential inflationary impacts. On March 1, crude tanker transits through the Strait dropped to just four vessels, compared with an average of 24 daily since January, according to Vortexa data. Approximately 300 tankers remain trapped within the corridor, tracked by Vortexa and Kpler.
Middle Eastern industry sources report that only Chinese or Iranian owned vessels are currently allowed passage. Iran has officially barred ships from the U.S., Israel, Europe, and their allies from transiting the Strait, with no mention of China, highlighting Beijing’s unique diplomatic leverage in the region.